Big Energy Companies’ New Pitch: ‘Carbon-Neutral’ Oil and Gas

By Dieter Holger
The Wall Street Journal
October 12, 2021
Category: Carbon, Climate & Bioenergy
Region: United States

Some energy companies are giving fossil fuels a carbon-neutral makeover, raising concerns that the pitch could undermine the case for less emissions. The companies are selling fossil fuels bundled with carbon offsets and marketing the products as carbon neutral. While they acknowledge that the offsets alone aren’t enough to stop climate change, advocates of decarbonization say the offerings risk exaggerating the climate benefits. Royal Dutch Shell PLC has been selling what it calls carbon-neutral liquefied natural gas for a number of years. …The companies say combining conventional energy products with voluntary carbon offsets—guarantees that a certain amount of carbon emissions will be averted or removed from the atmosphere, via tree planting or other methods—can balance out at least some of the fuel’s emissions. …But verifying the climate benefits is difficult. Experts say the amount of carbon that projects store can be overstated because the market lacks standardization and regulation. [a WSJ subscription is required to access the full story]

 

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